OGE Energy Corporation $OGE Holdings Lifted by Reaves W H & Co. Inc.

Key Points

• Reaves W H & Co. Inc. boosted its stake in OGE Energy by 45.6% in the fourth quarter, buying 608,454 shares and bringing its total holding to 1,944,201 shares worth about $83 million.
• OGE Energy continues to attract major institutional interest, with hedge funds and other investors owning 71.84% of the company’s stock. Notable moves included Norges Bank taking a new position worth $119.0 million.
• The company reported quarterly earnings of $0.24 per share, matching estimates, and declared a $0.425 quarterly dividend to be paid July 31, implying an annualized yield of about 3.6%.

Reaves W H & Co. Inc. increased its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 45.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,944,201 shares of the utilities provider's stock after buying an additional 608,454 shares during the quarter. OGE Energy accounts for approximately 1.5% of Reaves W H & Co. Inc.'s holdings, making the stock its 24th biggest position. Reaves W H & Co. Inc. owned approximately 0.97% of OGE Energy worth $83,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Thompson Siegel & Walmsley LLC grew its holdings in shares of OGE Energy by 5.6% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,278,994 shares of the utilities provider's stock valued at $54,613,000 after buying an additional 67,271 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in shares of OGE Energy during the fourth quarter valued at $203,000. Norges Bank purchased a new position in shares of OGE Energy during the fourth quarter valued at $119,028,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of OGE Energy during the fourth quarter valued at $180,000. Finally, Inspire Trust Co. N.A. grew its holdings in shares of OGE Energy by 19.0% during the fourth quarter. Inspire Trust Co. N.A. now owns 138,000 shares of the utilities provider's stock valued at $5,893,000 after buying an additional 22,000 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares of the company's stock, valued at $3,573,621.09. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

OGE has been the topic of a number of recent research reports. Mizuho set a $49.00 target price on OGE Energy in a research note on Thursday, February 19th. JPMorgan Chase & Co. initiated coverage on OGE Energy in a research note on Friday, March 20th. They issued an "overweight" rating and a $52.00 target price on the stock. Wall Street Zen downgraded OGE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Barclays boosted their target price on OGE Energy from $49.00 to $51.00 and gave the company an "overweight" rating in a research note on Monday, April 20th. Finally, LADENBURG THALM/SH SH boosted their target price on OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, OGE Energy presently has an average rating of "Hold" and an average target price of $49.11.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $47.17 on Monday. The business's 50-day moving average price is $47.84 and its two-hundred day moving average price is $45.86. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.13. The company has a market capitalization of $9.73 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 3.50 and a beta of 0.53.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The firm had revenue of $752.60 million for the quarter, compared to the consensus estimate of $616.02 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The business's quarterly revenue was up .7% compared to the same quarter last year. Analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $0.425 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.6%. OGE Energy's payout ratio is currently 75.89%.

About OGE Energy

OGE Energy Corp. NYSE: OGE is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.

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